Guojin Securities' 2026 Securities Industry Strategy: Enhanced Domestic Resilience, Deepened Overseas Layout.

Guojin Securities released a research report stating that the performance and valuation of the securities sector are seriously mismatched, and it is in a state of both offense and defense. The strengthening of the capital market's resilience and the deepening of the international business layout of securities firms will support the sector's valuation recovery. Stock selection ideas: 1) High-quality leading securities firms with low valuation and deepening international business; 2) Securities firms with advantages in large wealth management and large asset management business in the background of resident funds entering the market; 3) Securities firms with merger and acquisition themes.